0149 GMT - Myer's acquisition of Premier Investments' apparel brands could lift the Australian department-store operator's earnings-per-share by about 28%, E&P analyst Kade Madigan says. He tells clients in a note that the A$30 million in annual synergies anticipated by Myer will likely come from the enlarged group's improved purchasing power and lower costs thanks to Myer's existing infrastructure. Madigan adds that newly disclosed earnings from the apparel brands business are lower than he had anticipated. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 28, 2024 21:49 ET (01:49 GMT)
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